LVMH makes €2bn on stake in rival Hermes October 25, 2010 LVMH, the luxury goods giant, has made a paper profit of around €2bn (£1.8bn) after it revealed at the weekend it has built up a 17 per cent stake in rival Hermès International. Shares in Hermès, which makes silk scarves and Birkin handbags, rose as much as 17 per cent yesterday. The stock closed up [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 9, 2010 FINANCIAL TIMES EX-CLINTON AIDE TO ADVISE NEWS CORP ON EDUCATION Joel Klein, the chancellor of New York City’s schools and former deputy White House counsel to Bill Clinton, is joining News Corp as a senior adviser to Rupert Murdoch, as the company looks to make investments in educational start-ups. ASIAN EQUITY HEDGE FUNDS OUTPERFORM Asian [...]
Chinese fuel shops boost November 8, 2010 LONDON saw a 167 per cent increase in Chinese shoppers in October, compared to the same month last year. The rise has been fuelled by shoppers snapping up designer goods and a Chinese holiday which saw more holidaymakers than ever from the country. As well as the rise in customers the average spend was up [...]
Chinese fuel shops boost November 8, 2010 LONDON saw a 167 per cent increase in Chinese shoppers in October, compared to the same month last year. The rise has been fuelled by shoppers snapping up designer goods and a Chinese holiday which saw more holidaymakers than ever from the country. As well as the rise in customers the average spend was up [...]
LVMH takes Hermes stake October 24, 2010 THE French luxury goods group behind Moet champagne, Hennessy spirits and Louis Vuitton leather goods is buying a €1.45bn (£1.3bn) stake in family controlled handbag maker Hermes, but it denied it was planning a full-blown takeover bid. LVMH has bought a 14.2 per cent interest in Hermes, which is known for its high-end leather handbags and [...]
Hermes lifts its sales forecast July 20, 2010 DESIGNER label Hermès yesterday lifted its full-year sales growth target on the back of a stronger than expected second quarter, confirming the French group was enjoying one of the strongest rebounds of the luxury sector. The maker of printed silks and €10,000 (£8,500) leather handbags now foresees a 10-12 per cent rise in full-year sales [...]
AMBITIOUS SQUARE MILE LADIES APPOINT THEIR NEW AMBASSADOR March 8, 2010 MUCH has been made of the significance of today – International Women’s Day – for ladies in the City, so it seems fitting that the appointment of the latest high-flying president of the City Women’s Network (CWN) has been timed to coincide with the festivities. India Gary-Martin, the new president, is one of the best-known [...]